Existing Equity. The holders of the Existing Shares at a record date to be determined shall retain approximately 2% of the equity of PNCC immediately following the implementation of the Plan (subject to dilution resulting from the issuance of any Common Shares, options or other rights pursuant to the Management Incentive Plan, as contemplated herein). All of the rights of the Existing Equity, except for the Existing Shares and PNCC’s existing shareholder rights plan, shall be terminated upon the implementation of the Plan or otherwise dealt with to the satisfaction of the Company and the Majority Second Lien Noteholder Supporting Parties.
Existing Equity. The options granted to the Executive under the Intelsat, Ltd. 2001 Share Option Plan (the "2001 PLAN OPTIONS") and the Intelsat, Ltd. 2004 Share Incentive Plan (the "2004 PLAN OPTIONS"), and the restricted shares granted to the Executive (the "RS"), all of which are listed on Schedule 1 hereto and continue to be outstanding as of the Closing, shall be treated as of the Closing as set forth herein, notwithstanding the provisions of the Transaction Agreement:
Existing Equity. After consummation of the Exchange Offer, the Company will seek to effect a reverse stock split as mutually agreed with the Majority Secured Noteholders and Majority Convertible Noteholders. Subordinated Debt at PFSI: SAI Holdings, Inc. and PWI subordinated debt at Xxxxxx Financial Services, Inc. (“PFSI”) may be subject to a standstill agreement (terms to be negotiated) as to interest and debt payments or be converted into equity interests of PFSI, at the election of the Majority Secured Noteholders and the Company.
Existing Equity. On the Effective Date and effective as of immediately prior to the issuance of the Oaktree Shares and Participation Offering Shares, if any, and in accordance with the Plan, the Company shall cancel and extinguish all equity interests in the Company existing as of such time (including any options, warrants, rights to acquire equity interests or other securities exercisable for, or convertible into, equity interests in the Company), and the Company shall have provided documentation satisfactory to Oaktree evidencing the foregoing.
Existing Equity. The holders of the existing JRC capital stock and the holders of any existing options, warrants or rights to acquire any equity securities of JRC shall not receive any distributions or retain any property on account of their equity interests in JRC and all such capital stock, options, warrants and rights shall be extinguished.
Existing Equity. The Company has previously granted to the Executive options to purchase up to an aggregate of 2,532,004 shares of the Company’s common stock pursuant to the Plan (the “Existing Options”) and 245,434 shares of restricted stock (the “Stock”) subject to vesting and other conditions described therein.
Existing Equity. The Administrative Agents shall have received evidence that not later than the Closing Date that (i) the paid-in equity (in the form of equity cash contributions made by the Existing Shareholders and the New Shareholders of Holdings in consideration for Capital Stock issued by Holdings to such shareholders) was not less than the aggregate amount of $300,000,000 as of the date or dates contributed, (ii) not less than 99% of such cash has been contributed by Holdings to the Company as equity, and (iii) the remainder of such cash, if any, has been contributed by Holdings to either or both of Pegaso PCS and/or Personnel Co. as equity.
Existing Equity. The Stock Option Agreements shall survive the Termination Date in accordance with their terms and the Executive's rights thereunder, including, without limitation, the vesting and exercisability of the options subject thereto, shall be governed by the applicable Stock Option Agreement. The parties acknowledge and agree that (i) each of the options subject to the Stock Option Agreements shall become fully vested upon the Termination Date; (ii) the stock options subject to the Stock Option Agreements dated as of February 26, 1998; January 22, 1999; December 22, 1999; July 12, 2000; and October 12, 2000 shall remain exercisable for the thirty (30) day period following the Termination Date; and (iii) the stock options subject to the Stock Option Agreements dated as of December 26, 2002; January 27, 2003; and February 17, 2004 shall remain exercisable until the first anniversary of the Termination Date. The stock options represented by the Stock Option Agreements shall continue to be subject to Section 8.c of the Employment Agreement.
Existing Equity. You and the Company acknowledge and agree that as of the Retirement Date, you will hold unvested performance-based restricted stock units (“PSUs”), and unvested time-based restricted stock units (“RSUs”) under the Company’s 2020 Omnibus Incentive Compensation Plan (“Plan”). The RSUs and PSUs will vest in accordance with the terms of the specific grant agreements under the Plan (the “Award Agreements”). Any RSUs and PSUs that vest on or prior to the Retirement Date will be distributed to you in accordance with the applicable termination provisions set forth in your respective Award Agreements. All RSUs and PSUs which are unvested as of the Retirement Date and as to which no portion of such PSU or RSUs vests pursuant to the applicable Award Agreement will be forfeited and cancelled without consideration therefor as of the Retirement Date (the “Forfeited Awards”). For the avoidance of doubt, the Forfeited Awards shall not include any PSUs or RSUs granted to you in May 2022.
Existing Equity. Immediately prior to the Effective Date, the shares of Satmex owned by Servicios that are held in trust by Bancomer (the “Satmex Trust”) to secure payment of the FRN Notes will be released in favor of Servicios. On or prior to the Effective Date, (a) the shares of Satmex owned by the Mexican Government and the shares of Satmex owned by Servicios (both those held directly and those currently held in the Satmex Trust), will be exchanged for Series A shares of common stock of Satmex, and (b) the 606,730 shares of preferred stock of Satmex held by LSC and Principia, with face amount of US$31,900,000 and convertible into 4.0016 shares of common stock for each one share of preferred stock, will not be converted and, instead, will be exchanged for Series B shares of common stock of Satmex. The shares to be held by or for the benefit of Servicios, the Mexican Government, LSC and Principia will be referred to as the “Servicios Shares”, the “Government Shares”, the “Loral Shares” and the “Principia Shares”, respectively. Upon the issuance of Bondholder Equity, (1) the Servicios Shares and the Government Shares will be diluted and will jointly represent 20% of the total equity financial rights and 55% of the total equity voting rights of reorganized Satmex on a fully-diluted basis, and (2) the Loral Shares and the Principia Shares will be diluted and will jointly represent an aggregate of 2% of the total equity financial rights and 2% of the total equity voting rights of reorganized Satmex on a fully-diluted basis. The following capitalization table of the reorganized Satmex, indicates the ownership of its equity financial rights and equity voting rights, respectively, upon the Effective Date, shown in final percentages: Series Voting Rights Financial Rights Mexican Government A 10.00 % 4.0 % Servicios A 45.00 % 16.0 % Principia B 0.67 % 0.67 % LSC B 1.33 % 1.33 % SPE B 43.00 % 43.0 % SPE N 0.00 % 35.0 % Total 100.0 % 100.0 % The Loral Shares and the Principia Shares may be transferred on or before the Effective Date to a special purpose entity or company which is wholly owned by LSC and Principia, respectively. On and after the Effective Date, there shall be no restrictions (other than restrictions required by U.S. securities laws) on the sale or transfer of the equity interests of any such special purpose entity or company. On or after the Effective Date, after release of the security interest of the FRN Holders over the shares of Servicios originally owned by Firm...
